Business
Hemp, Inc. Reports on the Legalization of the Hemp and Marijuana Industries
Hemp, Inc. Reports on the Legalization of the Hemp and Marijuana Industries.
About this update from Hemp, Inc.
[{"type":"text","content":"\n \n \n Hemp, Inc. Reports on the Legalization of the Hemp and Marijuana Industries\n \n \nHemp, Inc. Reports on the Legalization of the Hemp and Marijuana Industries\n \n LAS VEGAS, NV--(Marketwired - Mar 22, 2016) - Hemp, Inc. (OTC PINK: HEMP) updates its shareholders on how the legalization of medical marijuana is burgeoning. In a failed attempt to push back the marijuana laws last week, state attorneys of Nebraska and Oklahoma took to the Supreme Court in a lawsuit against Colorado complaining that \"illegal marijuana was pouring into their states as a result of Colorado's liberalized laws.\" The Supreme Court, however, in a vote of 6 - 2, rejected the lawsuit. If the decision had gone the other way, cannabis supporters believed it would have set back the movement to legalize medical marijuana and the progress that has already been made.\n Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP), said, \"While Hemp, Inc. is not involved with medical marijuana, we support the industry and legalization of medical marijuana. As more doors open for medical marijuana and recreational marijuana, even more doors open within the industrial hemp industry. Just last week, Pennsylvania House of Representatives passed legislation to legalize medical marijuana and the Pennsylvania Senate unanimously passed the industrial hemp bill. As you recall, Texas was one step closer to joining Alaska, Oregon, Colorado, and Washington as the 5th state to legalize marijuana.\"\n Last year, the Texas House Criminal Jurisprudence Committee approved House Bill 2165 which would legalize the purchase and/or sale of recreational marijuana. HB 2165, which passed with a vote of 5 - 2, was followed by a previous bill that favored the decriminalization of marijuana. According to a Texas liberal group spokesperson, \"Marijuana policy reform continues to make unprecedented progress.\"\n While legalizing industrial hemp is economically advantageous for America, the legalization of medical marijuana seems to be equally as strong economically. Sources say the cannabis industry can reach upwards of 22 billion dollars by the year 2020 that could result from the compounded effects of legalization of marijuana throughout the nation. As the industry becomes \"more and more palatable to communities around the nation,\" job growth a...